CANADA STOCKS-TSX futures indicate lower open, Alcoa in focus

Reuters Staff

3 Min Read

April 8 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday as investors remained cautious ahead of earnings from aluminum producer Alcoa, which kicks off the U.S. corporate earnings season.

June futures on the S&P TSX index <0#SXF:> were down 0.37 percent at 0715 ET.

Data is due on housing starts at 0815 ET and building permits at 0830 ET

Canadian stocks retreated for a third straight session on Monday as increasing nervousness about the durability of recent market gains, coupled with sluggish commodity prices, dragged down most of the index’s major sectors.

Dow Jones Industrial Average futures were up 0.11 percent at 0715 ET, while S&P 500 futures were down 0.20 percent and Nasdaq 100 futures were down 0.01 percent.

TOP STORIES

The anti-separatist Liberal Party won a majority government in Quebec provincial elections, crushing the separatist Parti Quebecois and eliminating the possibility of a new referendum on independence from Canada for several years.

A federal jury in Florida ruled in favor of BlackBerry Ltd in a lawsuit accusing the company of infringing three patents belonging to Dutch semiconductor company NXP BV.

Canadian businesses widely expect input costs to rise as a result of the weaker Canadian dollar, but they’re not always able to pass on those higher costs to consumers because of intense competition, a central bank survey showed.

COMMODITIES AT 0715 ET

Gold futures : $1,311.70; +1.06 pct

U.S. crude : $101.23; +0.78 pct

Brent crude : $106.33; +0.47 pct

LME 3-month copper : $6,648; -0.40 pct

ANALYST RESEARCH HIGHLIGHTS

North American Palladium : CIBC ups to sector performer from sector underperform